Digest 54

We are glad to present you the 54th issue of the St. Petersburg International Legal Forum Digest.

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“The SPBILF has become one of the main discussion platforms for the Bank of Russia”

Vladimir Chistukhin, deputy governor of the Bank of Russia


According to Vladimir Chistukhin, Deputy Governor of the Bank of Russia, the St Petersburg International Legal Forum is becoming one of the main venues for discussing legal issues of the financial sector. A number of legal novelties presented there have already become laws.

A traditional presentation of the results of the VI St Petersburg International Legal Forum was held during the 25th International Financial Congress that took place in St Petersburg from June 29 to July 1.

Minister of Justice of the Russian Federation Aleksandr Konovalov stated in his speech that the Forum has become a global platform for discussing the main trends in legislative development. For the sixth time, it attracted not only representatives of various legal schools from around the world but also legal experts from various fields, including financial and bank law.

This year the Forum included a wider variety of discussion topics and the number of participants reached 3,750, the Minister added.

The Forum has also launched two new projects. The first one is Legal Forum Live. Legal communities from Russian regions and the CIS countries held their own events accompanied by broadcasts of the Forum's sessions. The Forum had 2,000 remote participants from 33 cities.

The second one is Legal Forum Academy, an educational project designed to promote the Forum and improve the quality of its content. It is going to be an on-line platform to promote legal knowledge, it will be useful also for representatives of the financial sector.

Notably, the Forum's discussions of current legal issues traditionally attract representatives of various areas of law enforcement, including government officials, lawyers, financial experts and academics. High-profile speakers and interesting discussions have become a trademark of the Legal Forum, said Yury Lyubimov, Secretary of State - Deputy Minister of Justice of the Russian Federation.

“This year, a significant part of discussions were devoted to the sphere of finance and banking, and there is a good reason for it: numerous factors of economic growth are tied to the law enforcement system. This was one of the key topics of the last Forum, largely because of the Bank of Russia's lively participation”, - Mr Lyubimov mentioned.

“Owing to the Legal Forum discussions, we can say to the State Duma's deputies that a certain decision was evaluated not merely by a limited number of the Central Bank's lawyers, but by the top-level experts”, - emphasized Sergei Shvetsov, First Deputy Governor of the Bank of Russia.

“I was very impressed by the Prime Minister Medvedev's speech at the Forum. I heard something that I myself as an economist have always thought to be true: the law is not an end in itself; a legal system is not a value for the sake of which the interests of economy and society can be ignored. In this sense, global changes, rise of new technology and new ways of life require adequate changes in legislation”, - he added.

Topics of the VI St Petersburg International Legal Forum included banking transactions, major financial market trends and Russia's financial security, improvement of the OSAGO insurance legislation, insurance premiums reform, prospects of effective bankruptcy procedure in the Russian legal system and many other financial sector issues.

According to Vasily Pozdyshev, Legal Forum is particularly important for the Bank of Russia. “Legal Forum's discussion went very smoothly and, most importantly, bore fruit: real work is being done right now, there is a direct communication between the Central Bank's governor and minister of justice. Participation in the Forum is not just a mere talk for us; it allows us to solve specific tasks that await us in the future”, - Deputy Governor of the Bank of Russia concluded.

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Dear colleagues!

We kindly invite you to take part in the development of the programme for the VII St. Petersburg International Legal Forum. We will be grateful for your concrete proposals on the topics of round tables and possible speakers of the VII SPBILF to programcommittee@spblegalforum.com. The Organizing Committee highly appreciates your cooperation and kindly asks to forward thoroughly detailed proposals.

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